U.S. dollar rises to one week high against yen after Chinese data

ecPulse
2015-01-20 14:50PM UTC

The U.S. dollar rose to the highest level in a week against the yen on Tuesday, after data showed that economic growth in China remained steady in the fourth quarter of 2014.

China’s gross domestic product expanded at an annual rate of 7.3%, slightly above expectations, but lower than the government target 7.5%.

Investors are anticipating the European Central Bank meeting on Thursday, with mounting expectations that the bank will launch a government bond-buying program, in a bid to face the threat of deflation in the euro area.

USD/JPY pair rose by 0.64% around 118.32 at 10:02 GMT.

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